PCCW Ltd. has agreed to sell its data center business for $750 million, in a bid to focus on its main telecom business.
The Hong Kong–based telecom services provider plans to sell its data-center operations to DigitalBridge Group, a New York–listed infrastructure REIT.
The company operates data center businesses in Hong Kong and Malaysia through two units, Powerbase HK and DC Malaysia. The firm plans to integrate the subsidiaries into a single entity for the disposal.
PCCW said it plans to use proceeds from the sale for potential investments in financial services, share buyback programs, as well as debt repayment and other general corporate purposes.
